Mohawk Industries, Inc. $MHK Stake Boosted by Yousif Capital Management LLC

Yousif Capital Management LLC lifted its holdings in Mohawk Industries, Inc. (NYSE:MHK) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,374 shares of the company’s stock after purchasing an additional 88 shares during the period. Yousif Capital Management LLC’s holdings in Mohawk Industries were worth $878,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Pzena Investment Management LLC lifted its stake in shares of Mohawk Industries by 5.4% in the 2nd quarter. Pzena Investment Management LLC now owns 1,175,775 shares of the company’s stock valued at $123,268,000 after purchasing an additional 59,831 shares during the last quarter. CWM LLC lifted its stake in shares of Mohawk Industries by 182.2% in the 2nd quarter. CWM LLC now owns 15,523 shares of the company’s stock valued at $1,627,000 after purchasing an additional 10,022 shares during the last quarter. Apollon Wealth Management LLC acquired a new stake in shares of Mohawk Industries in the 2nd quarter valued at $229,000. Vontobel Holding Ltd. lifted its stake in shares of Mohawk Industries by 9.4% in the 2nd quarter. Vontobel Holding Ltd. now owns 3,898 shares of the company’s stock valued at $409,000 after purchasing an additional 334 shares during the last quarter. Finally, KLP Kapitalforvaltning AS lifted its stake in shares of Mohawk Industries by 5.7% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 11,100 shares of the company’s stock valued at $1,164,000 after purchasing an additional 600 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

Mohawk Industries Stock Down 2.6%

Shares of MHK opened at $128.07 on Thursday. The company has a 50-day simple moving average of $129.69 and a 200-day simple moving average of $115.25. The firm has a market capitalization of $7.96 billion, a P/E ratio of 17.03, a P/E/G ratio of 3.72 and a beta of 1.29. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.18 and a current ratio of 2.13. Mohawk Industries, Inc. has a 52 week low of $96.24 and a 52 week high of $153.72.

Mohawk Industries (NYSE:MHK) last announced its quarterly earnings data on Thursday, July 24th. The company reported $2.77 EPS for the quarter, beating analysts’ consensus estimates of $2.62 by $0.15. Mohawk Industries had a net margin of 4.44% and a return on equity of 7.30%. The business had revenue of $2.80 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same quarter in the prior year, the business earned $3.00 earnings per share. The firm’s revenue for the quarter was up .0% on a year-over-year basis. On average, equities research analysts expect that Mohawk Industries, Inc. will post 9.8 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on MHK. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Mohawk Industries in a research note on Wednesday, October 8th. Vertical Research started coverage on shares of Mohawk Industries in a research report on Monday. They set a “buy” rating for the company. Raymond James Financial reissued a “strong-buy” rating and set a $150.00 target price (up previously from $140.00) on shares of Mohawk Industries in a research report on Tuesday. Evercore ISI cut their target price on shares of Mohawk Industries from $124.00 to $123.00 and set an “in-line” rating for the company in a research report on Monday, July 28th. Finally, Barclays boosted their target price on shares of Mohawk Industries from $111.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $139.38.

Insider Buying and Selling at Mohawk Industries

In other Mohawk Industries news, Director Bernard Thiers sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $128.21, for a total transaction of $1,282,100.00. Following the sale, the director directly owned 105,532 shares of the company’s stock, valued at approximately $13,530,257.72. This represents a 8.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey S. Lorberbaum sold 16,000 shares of the company’s stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $120.81, for a total transaction of $1,932,960.00. Following the sale, the chief executive officer directly owned 33,600 shares in the company, valued at $4,059,216. This represents a 32.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,791 shares of company stock worth $4,357,225. 17.40% of the stock is currently owned by company insiders.

About Mohawk Industries

Mohawk Industries, Inc designs, manufactures, sources, distributes, and markets flooring products for residential and commercial remodeling, and new construction channels in the United States, Europe, Latin America, and internationally. It operates through three segments: Global Ceramic, Flooring North America, and Flooring Rest of the World.